If we feel your case has good prospects of success, we may offer to share the risk of the litigation with you through a conditional fee agreement ("CFA"). This means that we will agree to discount our fees by a certain percentage for all or part of the case.
(i) CFA's entered into BEFORE 1 April 2013
If we then achieve what we have agreed is a 'successful outcome' in the case, we are entitled to charge our undiscounted rates (“base costs”) plus a percentage success fee. The bulk of these charges are normally recoverable from the losing party. For this reason, a CFA puts more pressure on the other side by increasing their potential costs exposure.
If you lose the case, all you will pay us is our discounted hourly rates for the work that we have undertaken on your behalf.
(ii) CFA's entered into AFTER 1 April 2013
The success fee is no longer recoverable from the other side but will be recoverable from you as the client. The base costs are still recoverable from the other side.
If you lose, you will pay us a discounted rate.